Record Details

The status of strategic planning in Small and Medium Enterprises: Priority of afterthought?

Southern African Journal of Entrepreneurship and Small Business Management


 
 
Field Value
 
Title The status of strategic planning in Small and Medium Enterprises: Priority of afterthought?
 
Creator Thompson, Corrinne Bounds, Maria Goldman, Geoff
 
Subject — —
Description Small and medium enterprises (SMEs) are faced will many challenges, and the development of a sound strategy for the SME could define how these challenges are met which, in turn, could mean the difference between success or failure of the enterprise. If a sound strategy is major contributing factor to the success of a small business, but the evidence of sound strategic management (as taught in universities and business schools) is not present in successful SME’s, one could question the way strategic management is conceptualised. The study thus aims to gather a greater understanding of strategic management – and strategy formulation practices in particular – within SME’s. The study employed a qualitative, descriptive design with semi-structured interviews conducted with 12 SME owners in Gauteng. Findings reveal that the majority of participants were in favour of and supported the notion of having a strategy for small and medium enterprises, but none of them made reference to a formal process regarding strategy formation.Key words: Strategy; strategy formulation, small and medium businesses; planning; qualitative research
 
Publisher AOSIS Publishing
 
Contributor
Date 2012-12-31
 
Type info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion — —
Format application/pdf
Identifier 10.4102/sajesbm.v5i1.26
 
Source The Southern African Journal of Entrepreneurship and Small Business Management; Vol 5, No 1 (2012); 34 - 53 2071-3185 1015-3977
 
Language eng
 
Relation https://sajesbm.co.za/index.php/sajesbm/article/view/26/30
 
Coverage — — —
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